Posted 1 year ago on March 22, 2013, 11:19 p.m. EST by itsmyblood
(10)
This content is user submitted and not an official statement

The island’s banks will reopen next week for the first time since the crisis began. Nathalie Savaricas talks to panicked savers in Nicosia desperate to withdraw their cash. “It will be chaos, people will be queuing to get in the banks so we’ll have to get up very early in the morning,” she said. “I’m scared for where we’re all headed, as so many people will be mad not to be able to access their funds – it’ll be a bloody Tuesday.”

"Ms Harilaou, 59, says she plans go to the bank on Tuesday and withdraw as much cash as possible – though she’s well aware there will be a cap on how much of her own money she can take.“It will be chaos, people will be queuing to get in the banks so we’ll have to get up very early in the morning,” she said. “I’m scared for where we’re all headed, as so many people will be mad not to be able to access their funds – it’ll be a bloody Tuesday.”

Extremely poor journalism by the author of that story. There's no evidence presented to support the women's prediction of violence.

"The potential exists for this to spread like a virus through the worlds economies you have been warned."

Do you have any evidence to support this statement? Cyprus is an infinitesimal fraction of the world economy.

For the record, I wouldn't blame anyone for pulling their money out of their bank and stashing it at home in this day and age. But the TBTF's don't make most of their money from individual depositors so it really wouldn't do much as far as hurting them financially. If it did, I'd encourage everyone to do so.